Ibotta (NYSE:IBTA) CTO Sells $219,542.40 in Stock

Ibotta, Inc. (NYSE:IBTA) CTO Luke Swanson sold 5,940 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $36.96, for a total transaction of $219,542.40. Following the transaction, the chief technology officer directly owned 466,132 shares of the company’s stock, valued at $17,228,238.72. This represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Luke Roy Swanson also recently made the following trade(s):

• On Friday, August 7th, Luke Swanson sold 600 shares of Ibotta stock. The shares were sold at an average price of $39.90, for a total value of $23,940.00.
• On Friday, August 7th, Luke Swanson sold 200 shares of Ibotta stock. The shares were sold at an average price of $39.91, for a total value of $7,982.00.
• On Monday, August 3rd, Luke Swanson sold 5,940 shares of Ibotta stock. The stock was sold at an average price of $24.47, for a total value of $145,351.80.
• On Wednesday, July 1st, Luke Swanson sold 5,940 shares of Ibotta stock. The shares were sold at an average price of $35.14, for a total value of $208,731.60.

Ibotta Stock Up 2.7%

IBTA stock opened at $38.34 on Friday. The company has a market cap of $774.47 million, a price-to-earnings ratio of -81.57 and a beta of -0.25. Ibotta, Inc. has a twelve month low of $19.10 and a twelve month high of $40.49. The business has a 50 day moving average price of $33.61 and a two-hundred day moving average price of $31.44.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group boosted their target price on shares of Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research report on Wednesday, June 24th. Evercore set a $42.00 target price on shares of Ibotta in a report on Tuesday, August 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Ibotta in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $36.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ibotta by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after acquiring an additional 515 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Ibotta in the 1st quarter valued at approximately $161,000. Goldman Sachs Group Inc. boosted its position in Ibotta by 16.6% in the first quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company’s stock valued at $5,170,000 after buying an additional 17,421 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Ibotta by 43.5% during the second quarter. Legal & General Group Plc now owns 12,349 shares of the company’s stock worth $452,000 after buying an additional 3,746 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Ibotta during the second quarter worth $781,000.

About Ibotta

Ibotta (NYSE: IBTA) is a Denver?based mobile commerce platform that connects consumers, retailers and brands through a unified cash-back rewards experience. Users access the Ibotta mobile app or browser extension to unlock rebates on everyday purchases, redeemable on groceries, retail goods, travel bookings and digital services. The platform integrates with major supermarket chains, big?box retailers and online merchants, enabling shoppers to earn automatic cash-back both in physical stores and across e-commerce channels.

Founded in 2012 by co?founder and CEO Bryan Leach, Ibotta has evolved from a simple rebate app into a comprehensive performance marketing partner for consumer goods companies.